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down in increasing payroll across the country to drive the economy. >> would you yield? i will join you in supporting legislation in passing the jobs bill that we have had for so long. but we need is to pass legislation to create jobs and we are just waiting for the leadership to do so. >> i can appreciate that. it is jobs that we may disagree on what stimulates jobs. i myself believe in lower taxes, less government interference and certainly we will have other questions today that indicate the impact of the aca. what i heard today though and again i'm a small business guide. we have the mantra grow or die and if you're not growing you're not doing what you should do as an entrepreneur. growth requires capital. accounts receivable inventory etc. etc. and any old all of dollars wasted on regulatory burdens such as the business aggregation rule and hiring a tax expert is in fact a dollar that's not available to invest in growth. briefly to reconfirm i think i heard it in your testimony that we would like to go down the line starting with ms. walker and ask if you think thi
down in increasing payroll across the country to drive the economy. >> would you yield? i will join you in supporting legislation in passing the jobs bill that we have had for so long. but we need is to pass legislation to create jobs and we are just waiting for the leadership to do so. >> i can appreciate that. it is jobs that we may disagree on what stimulates jobs. i myself believe in lower taxes, less government interference and certainly we will have other questions today that...
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five years later our economy has steadily grown. our businesses have created nearly 8 million jobs over the past 44 months, our housing market is recovering, and our financial system is stronger and once again an engine for economic growth. a lot of progress has been made and one of the main drivers has been the work of agencies and regulators to repair a badly damaged financial system. as regulators complete the remaining core element of wall street reform, there are four things we need to keep in mind. first, the rules of the road must be effective in designed to address the modern financial markets. second, we must make sure that regulators have the resources necessary to get the job done and they are held accountable. third, other countries need strong standards and mechanisms to address risks that reach across borders. and, finally, we must remain vigilant to potential new threats constantly monitoring the way that risks change and evolve and pursuing reforms to reduce risks stemming from both traditional banking and the shadow
five years later our economy has steadily grown. our businesses have created nearly 8 million jobs over the past 44 months, our housing market is recovering, and our financial system is stronger and once again an engine for economic growth. a lot of progress has been made and one of the main drivers has been the work of agencies and regulators to repair a badly damaged financial system. as regulators complete the remaining core element of wall street reform, there are four things we need to...
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small businesses are the backbone of our economy. but in the past, health care costs and declining coverage have hinders small business owners. the factors have -- our nation's entrepreneurial problems and help out small businesses. in fact the chairman mentioned nfib, the u.s. chamber of commerce, they have conducted a survey about small businesses asking them why is this the main issue they are concerned about? they talk about the cost of health insurance to be able to provide. in fact, 62 percent of small businesses in this country provide no health insurance to their employees, their family, or themselves. if anything, this law will enable small businesses to participate in the changes. so we have the largest -- in the process we will bring premium costs down because that will provide the kind of leverage that will enable them to -- [inaudible] a good premium. and gave consumers control over their own health care. yet, with any law of this magnitude, some will need to be made along the way. it happens every day. that is what the
small businesses are the backbone of our economy. but in the past, health care costs and declining coverage have hinders small business owners. the factors have -- our nation's entrepreneurial problems and help out small businesses. in fact the chairman mentioned nfib, the u.s. chamber of commerce, they have conducted a survey about small businesses asking them why is this the main issue they are concerned about? they talk about the cost of health insurance to be able to provide. in fact, 62...
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it is a big player now in the world economy. i have been sharing with many of the persons i have been talking to, a situation where i think there is an opportunity for latin america and the u.s.. there is a new concept that is becoming a very important concept. the concept that is referred to as a demographic dividend. the source of growth in the world that china was some years ago started to diminish because the negative demographic dividend that they are having because the population is not increasing it on the contrary it is decreasing. you have the problem in europe and you are having that problem here in the u.s.. one of the few areas in the world where you have a positive democrat dividend is america. you still have a young population and there you have a tremendous opportunity in the u.s. sees latin america with those eyes, there's a tremendous opportunity to increase the cooperation between the two areas and you are going to need immigration sooner or later if you want your economy to continue growing and that immigratio
it is a big player now in the world economy. i have been sharing with many of the persons i have been talking to, a situation where i think there is an opportunity for latin america and the u.s.. there is a new concept that is becoming a very important concept. the concept that is referred to as a demographic dividend. the source of growth in the world that china was some years ago started to diminish because the negative demographic dividend that they are having because the population is not...
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walker on another issue as far as the trend of basically a part-time economy. the new hires, according to the department of labor. i didn't know they were that bad. in this economy, four out of five new jobs, was that the figure you had, created are part time? >> for every one full-time job that's created, there's four part-time jobs created. >> okay. so when you average the hours, that's not quite four to one. four out of five new jobs. >> and the thing that -- well, that's surprising in and of itself to me. but the trend. and i'm not sure whether it was 2010 to 2012 or what with the years were, but the trend, it's flipped. used to be six full times to one part time versus one to four. >> that is really a devastating figure. it's not devastating for us in this room. it's the folks out there looking for a job, particularly young people, which have been the most devastated in this lack of long-term economic recovery. can you describe a little more what happens and basically this part-time economy, you know, where you're trying to work around, trying to avoid the
walker on another issue as far as the trend of basically a part-time economy. the new hires, according to the department of labor. i didn't know they were that bad. in this economy, four out of five new jobs, was that the figure you had, created are part time? >> for every one full-time job that's created, there's four part-time jobs created. >> okay. so when you average the hours, that's not quite four to one. four out of five new jobs. >> and the thing that -- well, that's...
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it supports the economy. my dad was a coal miner so i've known this industry forever. i wouldn't be here if it weren't for that. the standards for the power plants will essentially prevent construction at another power plant in this country essentially. in the first few pages of the eta cost-benefit analysis, you admit that this policy will come and i quote, result in a negligible co2 emission change or quantified benefits through 2022. in your view should the federal government regulate the coal-fired power plants in this manner if there are no benefits? that is an up or down. >> we should be regulating from the common missions. >> then your statement that you made that was incorrect that there is a benefit through 2022 because the quote in the first few pages of the cost-benefit analysis and i quote again result in the negligible co2 emission changes or quantified benefits through 2022. >> which is a reflection of the industry and the market as it sits today. so even in light of the fact that epa admits there is no benefit to it. >> of the issue is that .. isn't bein
it supports the economy. my dad was a coal miner so i've known this industry forever. i wouldn't be here if it weren't for that. the standards for the power plants will essentially prevent construction at another power plant in this country essentially. in the first few pages of the eta cost-benefit analysis, you admit that this policy will come and i quote, result in a negligible co2 emission change or quantified benefits through 2022. in your view should the federal government regulate the...
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it is an agency that almost no one hears about coming yet it is -- its impact on the world economy is extraordinary. so it is a very important position that people have owed. of all of the stuff that you have responsibility over, there is probably no more important mission that you hold today in terms of the strategic interest in the united states than citing these lng facilities. the congress gave you the authority to make the final decision at least on the permit back in the energy policy act of 2005. at the time we did it we felt that he would be using that for the imports, more than the lng exports. but the fact is that between you and the department of energy, you have the ability to affect strategic interest all over the world. i met last evening with some officials from the russian energy sector and they are very aware of the impact lng exports from the united states will have in markets that right now the russians dominate just as an example. i've also met with turkey, kazakhstan, some of those countries, kay tarr. it's just stunning how our ability to produce natural gas with
it is an agency that almost no one hears about coming yet it is -- its impact on the world economy is extraordinary. so it is a very important position that people have owed. of all of the stuff that you have responsibility over, there is probably no more important mission that you hold today in terms of the strategic interest in the united states than citing these lng facilities. the congress gave you the authority to make the final decision at least on the permit back in the energy policy act...
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as a public interest in privacy and the economic health of the economic basis of the digital economy in this country. it is dirty 6 billion is the likely damage to u.s. and u.k. companies because people are not going to trust these companies on the basis of some of the stories that have come into the domain. so i think oversight has to include people who need a privacy advocate. you need somebody asked turn all who has the technical knowledge, which i doubt many in the committee have. i have a small budget, 1.3 million i think there's all kinds of questions that parliamentarians have started back about whether it is right for this not to be a full select committee of the house, whether it is right that the chair should be a former person who is dealing with intelligence communities and responsibilities for them and whether they have enough resource and so on and so forth. i'm hearing very helpful suggestions, interest and suggestions about how the ioc might be reformed as a result of newspaper coverage. >> thank you. thank you, mr. rusbridger. what is the sort appointed principal? is
as a public interest in privacy and the economic health of the economic basis of the digital economy in this country. it is dirty 6 billion is the likely damage to u.s. and u.k. companies because people are not going to trust these companies on the basis of some of the stories that have come into the domain. so i think oversight has to include people who need a privacy advocate. you need somebody asked turn all who has the technical knowledge, which i doubt many in the committee have. i have a...
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have common interest in the preservation and open free sea lanes and what's in the interest of our economies and our security and we are going to have to work on mechanisms that help accommodate that, rules of conduct and other areas. that is an area where we continue to play a role. >> i think we made it pretty clear what our position is in the united states on this and it's not that the aid itself is new. or unique. the biggest concern that we have is how it was done so unilaterally and so immediately without any consultation or international consultation. that is not a wise course of action to take for any country. >> i have actually reached out to the schedulers to connect me with my counterpart and i expect it will occur following the vice presidents visit. i think it's worth noting we are not talking about sovereign space. we are talking about international air space adjacent to sovereign airspace and as you know the international norm i think as you know the international norm is you would only rip cord if you intended to injure the sovereign airspace of the country. it wasn't the dec
have common interest in the preservation and open free sea lanes and what's in the interest of our economies and our security and we are going to have to work on mechanisms that help accommodate that, rules of conduct and other areas. that is an area where we continue to play a role. >> i think we made it pretty clear what our position is in the united states on this and it's not that the aid itself is new. or unique. the biggest concern that we have is how it was done so unilaterally and...
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. >> the other was the downgrading of the economy and also responsible to this administration the other two things listed were cuts to medicare. so two out of the top three have hurt my people and obviously i'm concerned about it and i think it's going to affect the elderly also disproportionately represented in the rural areas of my district. mr. holtz-eakin come in that regard you indicated that we shouldn't be looking at these medicaid advantage rates or the care advantage rates based on 2013, but we should be looking to the future. can you explain that more fully? >> i am concerned that the current experience was at the outset by the demonstration program, the medicare service and attrition program, which i will take this opportunity to say not all of the planes are uniformly wonderful. it's a good idea to have a program to rate but it does not reward good performance and it needs to be reformed so that actually does. but they put $8 billion disguised for the near-term. >> i appreciate that. mr. chairman, with batch i yield back. >> the chair thanks the gentleman and recognizes mr.
. >> the other was the downgrading of the economy and also responsible to this administration the other two things listed were cuts to medicare. so two out of the top three have hurt my people and obviously i'm concerned about it and i think it's going to affect the elderly also disproportionately represented in the rural areas of my district. mr. holtz-eakin come in that regard you indicated that we shouldn't be looking at these medicaid advantage rates or the care advantage rates based...
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the economy didn't always work for everyone. racial discrimination locked millions out of poverty -- or out of opportunity. women were too often confined to a handful of often poorly paid and it was only through painstaking struggle that more women, and minorities, and americans with disabilities began to win the right to more fairly and fully participate in the economy. nevertheless, during the post- world war ii years, the economic ground felt stable and secure for most americans, and the future looked brighter than the past. and for some, that meant following in your old man's footsteps at the local plant, and you knew that a blue-collar job would let you buy a home, and a car, maybe a vacation once in a while, health care, a reliable pension. for others, it meant going to college -- in some cases, maybe the first in your family to go to college. and it meant graduating without taking on loads of debt, and being able to count on advancement through a vibrant job market. now, it's true that those at the top, even in those year
the economy didn't always work for everyone. racial discrimination locked millions out of poverty -- or out of opportunity. women were too often confined to a handful of often poorly paid and it was only through painstaking struggle that more women, and minorities, and americans with disabilities began to win the right to more fairly and fully participate in the economy. nevertheless, during the post- world war ii years, the economic ground felt stable and secure for most americans, and the...
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instead of doing bad things to the economy, we should be doing things to help move the economy forward. we have a proposal to invest more in our national infrastructure. as do people around the country, that we have huge unmet needs in that sector. it is a win-win to get jobs moving on that front. we pay for that infrastructure by saying that spent more of the moneys that were going to be spent on nationbuilding overseas to help invest in our economy right here at home. we have built lots of roads and lots of facilities in places like afghanistan. but sale at -- we are saying let's take some of those savings and invest them at home. invest in theo jobs of the future through early education. we believe we have to replace the sequester, no doubt about it. we understand that we may not be able to replace the whole thing at once, that we need to replace it, and we need to replace it in a balanced way, a way that calls for shared responsibility, which is why we have said from the beginning that in addition to making targeted cuts, we should also look at closing special interest tax breaks t
instead of doing bad things to the economy, we should be doing things to help move the economy forward. we have a proposal to invest more in our national infrastructure. as do people around the country, that we have huge unmet needs in that sector. it is a win-win to get jobs moving on that front. we pay for that infrastructure by saying that spent more of the moneys that were going to be spent on nationbuilding overseas to help invest in our economy right here at home. we have built lots of...
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economy will global economy continues to grow. cheryl: they can't cut any more. and productivity. >> you will start seeing revenue increases, and the economy as a whole, earnings by cutting and creating more. and increase third quarter gdp is an anomaly, and as a whole you take that and say things wwll get better, more products gets old and services rendered in 2014. cheryl: the bigger question for the markets, we are down a few points. and to make that -- >> a string of economic data don't have a string, one or two data points at best. today's data there's a caveat for each of those points, and because of the thanksgiving holiday associated with that. we are far away from actual tapering, december and january, the problem in january a transition period. and it is where it goes. >> march bite be a little early. they want to telegraph any move, the biggest fool is forward guidance. so you see them talk about capering and talk about capering more and more before they do it so i would expect them to have three or four different fomc minutes, increased likelihood of
economy will global economy continues to grow. cheryl: they can't cut any more. and productivity. >> you will start seeing revenue increases, and the economy as a whole, earnings by cutting and creating more. and increase third quarter gdp is an anomaly, and as a whole you take that and say things wwll get better, more products gets old and services rendered in 2014. cheryl: the bigger question for the markets, we are down a few points. and to make that -- >> a string of economic...
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economy. those are the jobs we need to raise wages for. >> jack brings up an important point, seven out of ten growth occupyings through 2020 are low-wage jobs. this the american job market. the president has supported this, we have a lot of democrats who have come out and supported thchl i think it is much harder, actually, for conservatives to dismiss the minimum wage in the way they dismiss other parts of the social safety net. this is not an entitlement program. there's economic stimulus. i think this puts conservatives in a tough position. >> it does put republicans in a tough position. majority of republicans think this is a good idea. the president talked beauty this yesterday. he's been talking about this for as long as he's been in public life. how is it we get more hone into the hands of working americans so we can grow the economy with people actually going out and working every day and building the economy with their hands and their brains. the next challenge for the democrats, how
economy. those are the jobs we need to raise wages for. >> jack brings up an important point, seven out of ten growth occupyings through 2020 are low-wage jobs. this the american job market. the president has supported this, we have a lot of democrats who have come out and supported thchl i think it is much harder, actually, for conservatives to dismiss the minimum wage in the way they dismiss other parts of the social safety net. this is not an entitlement program. there's economic...
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blame it on a new bach of positive reports on jobs, housing and the upbeat survey on the economy. the take away for investors, the fed will taper back stimulus plans and that might not be good for the markets. all this comes just two days before the release of the monthly jobs report. a key data point for central bank policy makers. it's no wonder stock averages between gains and losses and finally ending mostly in the red for the day. the dow lost 25 but down as much as 125 earlier in the day and the nasdaq edged up a fraction and s&p fell two points. the same concerns about the fed's next move sent the yield on the benchmark treasury note above 2.8%, the highest since september. >> how does the federal reserve see the economy right now as it prepares for the next policy meeting next month? steve liesman looks at the beige book survey and what that, along with this friday's november jobs report, could mean for the future of its stimulus program. >> reporter: some strong employment data today raising prospects for better job growth and less stimulus. adp in a much followed monthly
blame it on a new bach of positive reports on jobs, housing and the upbeat survey on the economy. the take away for investors, the fed will taper back stimulus plans and that might not be good for the markets. all this comes just two days before the release of the monthly jobs report. a key data point for central bank policy makers. it's no wonder stock averages between gains and losses and finally ending mostly in the red for the day. the dow lost 25 but down as much as 125 earlier in the day...
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because is the economy dependent going? >> i think the economy would be a lot better if the president would get out of the way and stop trying to help because what he proposes of policies are the problem and i am not basing it on a partisan point because bush got us in with big government. obama is digging us in deeper. why is the media not paying attention? he is giving the same speech, more government, higher taxes, more intervention, more regulation. i guess we ought to have automatic french translation policy. >> dan mitchell and david k. johnson, appreciate you joining us to talk about this tonight. thank you. >> thank you. >> switching topics now from the economy and freedom for financial equality for freedom for some of the smartest animals. the non-human rights project filed a habeas corpus suit in an effort to win release from a cage for a 26-year-old chim pans e called tommy. the suit will file for a 26-year-old cheek named kiko and two used in a research lab. the non-human rights project says it plans to file sui
because is the economy dependent going? >> i think the economy would be a lot better if the president would get out of the way and stop trying to help because what he proposes of policies are the problem and i am not basing it on a partisan point because bush got us in with big government. obama is digging us in deeper. why is the media not paying attention? he is giving the same speech, more government, higher taxes, more intervention, more regulation. i guess we ought to have automatic...
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the economy is stronger and improving. loweringhy people are the forecasts. a lot people are saying the same things and the volatility is down. the central banks are in the markets aggressively. whether or not that will last all of 2014 is a question. months?or the first six >> more likely than not. the economy will pick up stream -- steam and volatility is something that people are starting to think about whether or not that is appropriate. >> we will take a short break and continue our conversation with the head of markets research. manus cranny will give us an update in two minutes. in london, this is on the move. we are streaming on bloomberg.com and your tablet phone. francisco who is the head at goldman sachs. we're talking about 2014 and the terms. you talked about the trades. the second one that you are saying is in u.s. treasuries. >> we are recommending it to be short against european curves. the content is part of that is the federal reserve. if you look at the cross-section of interest rates, they are not where they should be, in relation to the m
the economy is stronger and improving. loweringhy people are the forecasts. a lot people are saying the same things and the volatility is down. the central banks are in the markets aggressively. whether or not that will last all of 2014 is a question. months?or the first six >> more likely than not. the economy will pick up stream -- steam and volatility is something that people are starting to think about whether or not that is appropriate. >> we will take a short break and...
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you may think that's bad news for the economy. over the long run that's true but in firs lowbut low productis an omen. >> good to see you. six big global banks accused of colluding to create line libor, setting the interest rate from everything, student loans to credit cards. citibank will play another $95 million as part of the settlement. as debated for three years now the rule could be a harsh reality for wall street. they're expected to pass a stricter version of the letter to keep from making speculative trades. they can't use your fossed mountain or cheaper borrowed money for trading. i have a full plate today but as we get close for next tuesday i'm going to make sure that we explain the control rule to you. doctor, doctor, why won't you take my obama insurance. why many physicians fear obama will hurt their bottom line and they've decided not to participate. and then pay your damn parking tickets. we'll have that story when we return. >> more than 29 the thousand americans enrolled in health plans over the weekend. that's
you may think that's bad news for the economy. over the long run that's true but in firs lowbut low productis an omen. >> good to see you. six big global banks accused of colluding to create line libor, setting the interest rate from everything, student loans to credit cards. citibank will play another $95 million as part of the settlement. as debated for three years now the rule could be a harsh reality for wall street. they're expected to pass a stricter version of the letter to keep...
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economy and your 401(k), a key checkup shows the economy growing at a quicker pace than expected. you'd that that would send stocks soaring but that's not necessarily the case. zain asher joining us from the new york stock exchange. start with the key economic report that came out today. how much growth are we talking about? >> reporter: third quarter gdp coming in at 3.6%. certainly a good headline number and the biggest growth we've seen since the first quarter of 2012. part of the reason for this is seeing a bigger boost in inventories, bigger buildup in inventorie inventories. you'll see consumer spending is weak. but if you remove inventories from the data, gdp third quarter actually would have come in at 1.9%. not necessarily that impressive. how far, the headline number's getting stronger. if you compare it to what we've seen this year, the first three months of the year, 1.1%, last quarter 2.5%, and also this number is certainly in line with stronger economic reports we've seen just this week from the car industry, and also housing and jobless claims as well. >> very encou
economy and your 401(k), a key checkup shows the economy growing at a quicker pace than expected. you'd that that would send stocks soaring but that's not necessarily the case. zain asher joining us from the new york stock exchange. start with the key economic report that came out today. how much growth are we talking about? >> reporter: third quarter gdp coming in at 3.6%. certainly a good headline number and the biggest growth we've seen since the first quarter of 2012. part of the...
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cry out because this economy is a mess. i have been a hard worker, a jack of all trades willing to learn anything and still i have not been able to gainfully get jobs. next our conversation up will focus on the five-year farm bill and negotiations for that. a big part of the farm bill is the food stamp row graham. we will talk with randy neugebauer, a republican from texas. later, we will discuss the pending budget deal between the house and senate. we will be right back. >> friday on c-span, washington journal looks at the mission and role of the national institutes of health, starting live at 7:30 eastern. :30.:00, followed at 8 at 9:00, national cancer institute director. at nine: 30, a look at the national institute of mental health among all with your calls and comments, live on c-span. >> from age eight, betty ford knew she wanted to do something with dance. plays and skits and to bennington, vermont, where she studied at the school of dance. these are some of her notecards from her spiral mode books where she kept no
cry out because this economy is a mess. i have been a hard worker, a jack of all trades willing to learn anything and still i have not been able to gainfully get jobs. next our conversation up will focus on the five-year farm bill and negotiations for that. a big part of the farm bill is the food stamp row graham. we will talk with randy neugebauer, a republican from texas. later, we will discuss the pending budget deal between the house and senate. we will be right back. >> friday on...
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they lose their ability to contribute to the economy. again, all we have to do is look at the mess in europe to see where that path takes us. and what worries me about obama is we are not going to deal with inincome ine quiltty and mobility unless we take the chains of government off of the economy. >> let's take talk about these mixed signs on the disney. consumer confidence is down. but on the other hand, it looks like private sector hiring is up. we have numbers that came out today, fairly positive. on the other hand -- we had home sales going up 25% in october. on the other hand, holiday retail sales have been weak. so, dan, the economy, something or has it really just started to turn around? >> the numbers, it could be a statistical blip, but in general, in general, compared to europe, we are doing okay. we are having two % growth or so averaging out over, you know, several quarters. now, with that being said, we used to have 3% average growth. so we are suffering compared to our normal pattern, and i agree with david, if this was a
they lose their ability to contribute to the economy. again, all we have to do is look at the mess in europe to see where that path takes us. and what worries me about obama is we are not going to deal with inincome ine quiltty and mobility unless we take the chains of government off of the economy. >> let's take talk about these mixed signs on the disney. consumer confidence is down. but on the other hand, it looks like private sector hiring is up. we have numbers that came out today,...
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economy but it could bolster the view that the economy is gaining traction and could affect policymakers decisions on whether or not to scale back their asset purchases. from the fed's 12 districts, early october to mid november, that includes the 16-day government shutdown. economic activity continued to expand at a modest to moderate pace. manufacturing activity continues to expand in most districts. reports on retail spending were deeper into the beige book, seven out of 12 strips reported modest growth. tourism is affected in some districts. on manufacturing, the report says it continues to expanded most districts with gains noted in motor vehicle and technology industries. many expressed optimism about near-term growth prospects. there is also an upbeat assessment of consumer spending. looking forward to the holiday season, retailers reported being hopeful and cautious. they were reported as moderate to strong. on the key question, what is going on in the labor market? the beige book reports hiring showed a modest increase. difficulty with qualified workers for high skilled --itions
economy but it could bolster the view that the economy is gaining traction and could affect policymakers decisions on whether or not to scale back their asset purchases. from the fed's 12 districts, early october to mid november, that includes the 16-day government shutdown. economic activity continued to expand at a modest to moderate pace. manufacturing activity continues to expand in most districts. reports on retail spending were deeper into the beige book, seven out of 12 strips reported...
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basically a economy without a lot of dynamism. 2% would be okay if we were full employment, economy's potential, somewhere around 2 1/2%. liz: interesting to me we're saying, very thing some people in congress asked for, particularly conservatives, slim down, cut back, they did. you're saying that because of those cutbacks that is the drag on the economy? >> absolutely. i mean in other contexts you could talk about the private sector making up the gap but when we're still so far full employment, so much excess capacity, no one rushes out to invest because the local government laid off school teachers or federal government laid off air traffic controllers. doesn't make any sense. we need the demand in the economy. we're just not getting it. liz: what should we be doing? we've done what one side wanted to do, that is cut back on government jobs. we've done what the democrats wanted to do, the president got a stimulus passed. president bush went through with the tarp and bailed out the auto industry. yet we're not seeing the job growth or unemployment rate at levels we need to see it at.
basically a economy without a lot of dynamism. 2% would be okay if we were full employment, economy's potential, somewhere around 2 1/2%. liz: interesting to me we're saying, very thing some people in congress asked for, particularly conservatives, slim down, cut back, they did. you're saying that because of those cutbacks that is the drag on the economy? >> absolutely. i mean in other contexts you could talk about the private sector making up the gap but when we're still so far full...
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how has their economy done the past 20 years, terrible. that's the obamanomics there. >> what do you think of jim p.'s challenge? >> i think that the issue that you're missing there was really at the heart of his presentation and, again, there's very strong evidence for this, is it's not so much that inequality hurts growth, although there were references of that in terms of financial bubbles. by the way, there's good research that connects the lack of oversight and the financial problems that we had. what he was talking about was a connection between high income inequality, stagnant incomes for the middle class and diminished opportunity, diminished opportunity. that's what you have left out. that's essential because, look, the three of us will all agree that we in america don't push for equal outcomes but we do believe there ought to be some equality of opportunity. when inequality gets too high, opportunity gets squashed. >> that's wrong. i know that's the president's line that income has been stagnated for 40 years. that is, a, complet
how has their economy done the past 20 years, terrible. that's the obamanomics there. >> what do you think of jim p.'s challenge? >> i think that the issue that you're missing there was really at the heart of his presentation and, again, there's very strong evidence for this, is it's not so much that inequality hurts growth, although there were references of that in terms of financial bubbles. by the way, there's good research that connects the lack of oversight and the financial...
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economy. remember, that is what the chancellor has been talking about in the lead up. that's where we've seen the prime minister and his visit to china press on getting money and capital to the real economy. it may be a physically xhushl budget, but how are they going to sustain the growth we've seen in the past pew months? >> helia, thanks for that. >>> the chancellor is due to stand up and give his speech around 11:15 london time, 12:15 cet. we will cover that, as well. that will lead into the bank of england decision, as well. >>> the japanese cabinet has approved a stimulus package worth $182 billion. we have the story from tokyo. >> hi, ross. this massive package is expected to push up the nation's real gdp by around 1%. government spending is to total around $54 billion. $13 billion or 25% of this will be allocated to help improve competitiveness of japanese industries and to strengthen metropolitan functions ahead of the 2020 tokyo olympics. the rest will be spent on things like reconst
economy. remember, that is what the chancellor has been talking about in the lead up. that's where we've seen the prime minister and his visit to china press on getting money and capital to the real economy. it may be a physically xhushl budget, but how are they going to sustain the growth we've seen in the past pew months? >> helia, thanks for that. >>> the chancellor is due to stand up and give his speech around 11:15 london time, 12:15 cet. we will cover that, as well. that...
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drag on our economy. i think the gdp numbers holly just talked about in terms of what's going to happen first and second quarter of next year, i think that's completely accurate. what's really interesting here, bill, look at what's happening in detroit. now look what's happening in chicago. if this is going to be a model for municipalities and state governments around the country, what is that going to do to wages? what is that going to do to spending? it's going to reduce it. so consumption, u.s. as 70% consumption has got to go down. i don't see a scenario where we have strong gdp growth. as rick santelli says all the time, rational thinking eventually has to come into play. i think we're starting to see that. >> there are, if you look at the corporate sector, we're certainly seeing leverage pick up there. if you look at households, they've largely improved their balance sheet already. we're seeing signs they're taking on credit in areas like autos and understandably student loans as well. if that conti
drag on our economy. i think the gdp numbers holly just talked about in terms of what's going to happen first and second quarter of next year, i think that's completely accurate. what's really interesting here, bill, look at what's happening in detroit. now look what's happening in chicago. if this is going to be a model for municipalities and state governments around the country, what is that going to do to wages? what is that going to do to spending? it's going to reduce it. so consumption,...
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if it believes that this economy its market is being threatened by the possibility of fewer european good coming into ukraine and later on. i think that the russia perfectly has the right to act according to its national interests as long as it does not violate the international arrangements. russia has made because first of all we have the framework of the a w t or world trade organization and there were some clear big issues that russia took and including that if there were some problems with the partners inside of w two or there are some instruments to solve that then if you remember in ukraine when ukraine was giving away its nuclear arms there was a special treaty and russia was part of that which clearly said that russia is never going to use economic pressure and some other kinds of pressure to influence their transposition so many people in ukraine clearly please see that russia russia went into the zone which was very close to elation ofis international obligations but the. once again it's not it's not just legal framework i think it's much more about the way this pressure w
if it believes that this economy its market is being threatened by the possibility of fewer european good coming into ukraine and later on. i think that the russia perfectly has the right to act according to its national interests as long as it does not violate the international arrangements. russia has made because first of all we have the framework of the a w t or world trade organization and there were some clear big issues that russia took and including that if there were some problems with...
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all of the things that we are not doing for our economy. the missing stimulus money, where is all about? the billions and trillions that we are spending on education and not having any effect. in government isn't working. but we don't entrust how to be in a in a new economic society and that scott said, this has been going on for decades. gerri: to your point, income inequality is growing. 1992, the share of income by the top 5% in 2002, comparing and contrasting. that is not a big change. >> i think that the preponderance of evidence is that income is at the top half versus everyone else over the last two decades. whether that's a problem or not, it is completely unclear when you actually read all of the research that is done on it. and the other point i would make is that within the bottom 80%, the vast majority of the american population, income inequality has grown since the 1980s and in a lot of ways, that is the part that maybe we would be worried about. >> let's talk about one thing that has changed. after the 50s and 60s, when we ha
all of the things that we are not doing for our economy. the missing stimulus money, where is all about? the billions and trillions that we are spending on education and not having any effect. in government isn't working. but we don't entrust how to be in a in a new economic society and that scott said, this has been going on for decades. gerri: to your point, income inequality is growing. 1992, the share of income by the top 5% in 2002, comparing and contrasting. that is not a big change....
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in the interests of his family of both in terms of his political influence and in terms of the economy and of running a business in ukraine once again i think it's personally and holds true responsibility . over the political crisis in ukraine that's the person who put the relationship between ukraine and russia into a very dangerous situation and that's the person who put the relationship between ukraine and their opinion into this where the future mass that we can see and so that's that's why going back to the beginning organization most of the ukrainians feel that this man should step down from his present position he's personally responsible for this mess that the country is at the moment while i miss the tank unfortunately our only time will tell whether this is going to happen but we are out of five time right now i really appreciate your perspective and to our viewers if you like the show please join us again same place same time here on while the party. says the media leave us so we leave the media. by the same motions to. you for the visit the. questions that no one is asking
in the interests of his family of both in terms of his political influence and in terms of the economy and of running a business in ukraine once again i think it's personally and holds true responsibility . over the political crisis in ukraine that's the person who put the relationship between ukraine and russia into a very dangerous situation and that's the person who put the relationship between ukraine and their opinion into this where the future mass that we can see and so that's that's why...
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if it believes that this economy its market is being threatened by the possibility of you in european good coming into ukraine and later on. i think that to russia perfectly says the right to act according to its national interests as long as it does not violate the international arrangements. russia has meant because first of all we have the framework of the a w two world trade organization and there were some clear big issues that russia took and including that if there were some problems with the partners inside of w two there are some instruments to solve that then if you remember in ukraine when ukraine was giving away its nuclear arms there was a special treaty and russia was part of that which clearly said that russia is never going to use economic pressure in some other kinds of pressure to influence their transposition so many people in ukraine clearly clear see that russia russia went into the zone which was very close to relation of these international obligations but once again it's not it's not just legal framework i think it's much more about the way this pressure was pu
if it believes that this economy its market is being threatened by the possibility of you in european good coming into ukraine and later on. i think that to russia perfectly says the right to act according to its national interests as long as it does not violate the international arrangements. russia has meant because first of all we have the framework of the a w two world trade organization and there were some clear big issues that russia took and including that if there were some problems...
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. >> the other issue obviously is the economy. >> the economy remains the single biggest concern. >> washington consistently failed to act. >> these asperities have become too big to ignore. >> making an action across the board. >> raising minimum wage, assistance to the long-term unemployed. something of a warning call to the american dream. >> it is not simply a moral claim. >> it's rooted in the personal. >> so we can make a difference on this. >> there are 19 shopping days to find health insurance on the government exchange. 29,000 people reportedly completed the application and selected a health plan on the federal exchange on sunday and monday but we don't exactly know how many of them completed the purchase and have paid their first premium. today, president obama told young supporters at the affordable care act youth summit how they can help make health care reform a success. >> the truth is, that for your friends and family, the most important source of information is not going to be me. it's going to be you. they are going to trust you if you're taking them on a website, wa
. >> the other issue obviously is the economy. >> the economy remains the single biggest concern. >> washington consistently failed to act. >> these asperities have become too big to ignore. >> making an action across the board. >> raising minimum wage, assistance to the long-term unemployed. something of a warning call to the american dream. >> it is not simply a moral claim. >> it's rooted in the personal. >> so we can make a difference on...
SFGTV: San Francisco Government Television
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we know that the green energy economy can have a market transformation as the it1 we are experiencing here in san francisco but in order to do that we as a city must provide strong demand for energy efficiency and renewable products. that catalyst is greenfinancesf. we have seen other parts of the state of california that have adopted residential programs to great effect recently most notably sonoma and others. and we now know the stories of individuals that have chosen to participate in these respected pace programs and seen the successes that they have encountered. we know these upgrades can save money not only on repair costs and energy services and also monthly energy bills to the tunes of thousands of dollars saved per household. from the beginning we wanted to insure this policy and finance tool have a strong work force component tied to it that put residents to work in this thrg. we can be partners in the labor to begin the discussion of what the work force would look like and training for these jobs in san francisco is key to getting jobs and keeping them employed today and ke
we know that the green energy economy can have a market transformation as the it1 we are experiencing here in san francisco but in order to do that we as a city must provide strong demand for energy efficiency and renewable products. that catalyst is greenfinancesf. we have seen other parts of the state of california that have adopted residential programs to great effect recently most notably sonoma and others. and we now know the stories of individuals that have chosen to participate in these...
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the constraint holds our economy back. it seemed like charlie brown and the football, but our reporters tell us that there is going to be a budget deal this time. [laughter] ryan, patty murray -- they are going to reach some sort of small deal so that reporters and lawmakers in budget directors are not working on new year's eve again. have you been briefed on the murray-ryan conversations? we submit a budget and then they act -- and then congress acts on it. we are excited and happy to be at this point. we are supportive of the process. what the administration can best do to get the ball over the line is be supportive of the process. the supportive of the effort that ms. mari and mr. ryan are doing -- mr. murray -- ms. mu rray and mr. ryan are doing. that is what we're doing. the entire process began before i came back to the office of management and budget. being specifics are worked out. it is pretty clear the gist of this deal. we're going to set some spending so we can have regular order, to change some of the sequeste
the constraint holds our economy back. it seemed like charlie brown and the football, but our reporters tell us that there is going to be a budget deal this time. [laughter] ryan, patty murray -- they are going to reach some sort of small deal so that reporters and lawmakers in budget directors are not working on new year's eve again. have you been briefed on the murray-ryan conversations? we submit a budget and then they act -- and then congress acts on it. we are excited and happy to be at...
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has dwindled to the lowest levels since the great depression low interest rates a sluggish economy and heightened regulations have all taken their toll on the banking sector now the decline in banking numbers has come entirely in the form of big exiting banks with less than one hundred million dollars in assets left on their books and the bulk of those departures occurred between one thousand nine hundred four and two thousand and eleven now f.d.i.c data shows that more than ten thousand banks left the industry during this period as the result of mergers and consolidations while about seventeen percent of the banks collapse all together now the number of federally insured institutions nationwide shrank to six thousand eight hundred ninety one in the third quarter now that's falling below the seven thousand number that it was for the first time since the federal regulation began keeping track in one nine hundred thirty four it's a long time now the number of physical bank branches in the u.s. is also shrinking from the end of two thousand and nine through june thirtieth of this year the
has dwindled to the lowest levels since the great depression low interest rates a sluggish economy and heightened regulations have all taken their toll on the banking sector now the decline in banking numbers has come entirely in the form of big exiting banks with less than one hundred million dollars in assets left on their books and the bulk of those departures occurred between one thousand nine hundred four and two thousand and eleven now f.d.i.c data shows that more than ten thousand banks...
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in the interests of his family of both in terms of his political influence and in terms of the economy and of running a business in ukraine once again i think it's personally and it's full responsibility of all of the political crisis in ukraine that's the person who put the relationship between ukraine and russia into a very dangerous situation and that's the person who put the relationship between ukraine and their opinion into this where the future mass that we can see and so that's that's why going back to the beginning organization most of the ukrainians feel that this man should step down from his present position he's personally responsible for this mess that the country is at the moment while i miss the tank unfortunately out only time will tell whether this is going to happen but we are out of time right now i really appreciate your perspective and to our viewers if you like the show please join us again same place same time here on wall the part. i was thinking somehow i had to come back because mom was waiting for me. i just knew that everything would be fine for some reason
in the interests of his family of both in terms of his political influence and in terms of the economy and of running a business in ukraine once again i think it's personally and it's full responsibility of all of the political crisis in ukraine that's the person who put the relationship between ukraine and russia into a very dangerous situation and that's the person who put the relationship between ukraine and their opinion into this where the future mass that we can see and so that's that's...
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but the economy is better. >> and the economy is better. i agree with you on that. >> you're not taking my trade? you're not taking my trade. >> i'm taking your trade -- >> 10 bucks of qe you give me a dollar a growth. >> and i'll throw one more angle at that. >> you finance it and give me a year, and i'm with it. >> why is profitability the only thing that matters? what if we actually get global economic growth as qe is tapering off. what if we get sales growth? remember that? what if not everything was about buybacks and dividends, but actually people got excited about wages going up, better employment. >> from your lips to god's ears. >> i'm not saying it's in the bag. i'm saying that it is a possibility. it shouldn't be completely ruled out when you have every central bank on earth throwing as many dollars as they can into the system, don't be shocked if wages tick up and if people start to spend more money. it's entirely possible. >> steve, we'll be watching closely tomorrow morning. we'll see what happens, especially on the heels of t
but the economy is better. >> and the economy is better. i agree with you on that. >> you're not taking my trade? you're not taking my trade. >> i'm taking your trade -- >> 10 bucks of qe you give me a dollar a growth. >> and i'll throw one more angle at that. >> you finance it and give me a year, and i'm with it. >> why is profitability the only thing that matters? what if we actually get global economic growth as qe is tapering off. what if we get...
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if it believes that this economy its market is being threatened by the possibility of you in european good coming into ukraine and later on. i think that to russia perfectly says the right to act according to its national interests as long as it does not violate the international arrangements. russia has meant because first of all we have the framework of the a w t. world trade organization and there were some clear big issues that russia took and including that deal there were some problems with the partners inside of w two there are some instruments the sort of them if you remember in ukraine when ukraine was giving away its nuclear arms there was a special treaty and russia was part of that which clearly said that russia is never going to use economic pressure in some other kinds of pressure to influence their transposition so many people in ukraine clearly clear see that russia russia went into the zone which was very close to relation of its international obligations but once again it's not it's not just legal framework i think it's much more about the way this pressure was put o
if it believes that this economy its market is being threatened by the possibility of you in european good coming into ukraine and later on. i think that to russia perfectly says the right to act according to its national interests as long as it does not violate the international arrangements. russia has meant because first of all we have the framework of the a w t. world trade organization and there were some clear big issues that russia took and including that deal there were some problems...
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is not unique to america's market economy across the developed world that inequality has increased some some you may have seen just last week the pope himself spoke. about this at eloquent length how going to be he wrote that it's not a news item when an elderly homeless person does but suppose you are but it is news when the stock market loses two points so what do you think. why why should it be news when the stock market drops two points but the fact that you know forty forty thousand people in the united states every year die from lack of health health care for example adam smith a brilliant economist and minister whose book theory of moral sentiments should be read long before explains in the book the senate moral sentiments ups or another matter what the basis in this book that he wrote on the right or the theory of bill explains that when an earthquake kills ten thousand people in china we don't feel it and we're not as impacted the way we are when one of our neighbors has a break a leg or falls it's just every ality of how humans work that's no indictment on any particular econo
is not unique to america's market economy across the developed world that inequality has increased some some you may have seen just last week the pope himself spoke. about this at eloquent length how going to be he wrote that it's not a news item when an elderly homeless person does but suppose you are but it is news when the stock market loses two points so what do you think. why why should it be news when the stock market drops two points but the fact that you know forty forty thousand people...
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coming up i'll speak with one activist who wants to democratize our local economies and most show you how. to get a quote for you. today where it's a story. because this guy like you would save your stead of working for the people most issues the biggest reason we're right on stage. is. we're in the bedroom. i think. everybody. did you know the price is the only industry specifically mention of the constitution in chicago that's because a free and open press is critical to our democracy trade albus. in fact the single biggest threat facing our nation today is the corporate takeover of our government and oppressive like oh we've been a hydrogen why a handful of transnational corporations that will profit by destroying what our founding fathers but once told us my job market and on this show we reveal the big picture of what's actually going on in the world if we go beyond identifying the problem to try to fix rational debate and a real discussion critical issues facing america if i ever feel ready to join the movement then welcome to the big picture. with wealth inequality in america a
coming up i'll speak with one activist who wants to democratize our local economies and most show you how. to get a quote for you. today where it's a story. because this guy like you would save your stead of working for the people most issues the biggest reason we're right on stage. is. we're in the bedroom. i think. everybody. did you know the price is the only industry specifically mention of the constitution in chicago that's because a free and open press is critical to our democracy trade...
SFGTV: San Francisco Government Television
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ins the green collar economy that continues to grow. we want our local workers to have the skills necessary to take part in that e -- emerging industry. we want to ensure local residents are working on local contracts on local projects so we keep money and workflow within san francisco and continue to boost our local economy. i want to thank pat muligan from city build in particular, for all their hard work in the workforce component on that as well. we are confident that san francisco's program can now move forward and be successful. we've seen countless programs up and down the state of california and nationwide operates successfully now for years with no threat of it being shut down, we want to protect property owners and give them the comfort they need to part pate. our governor jerry brown passed in his budget reserve funds that will address sfha concerns and make sure that they are not impacted by pace impacts mere in san francisco, we will be participate ining the state reserve fund so that our property owners are fully perked. g
ins the green collar economy that continues to grow. we want our local workers to have the skills necessary to take part in that e -- emerging industry. we want to ensure local residents are working on local contracts on local projects so we keep money and workflow within san francisco and continue to boost our local economy. i want to thank pat muligan from city build in particular, for all their hard work in the workforce component on that as well. we are confident that san francisco's...
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is not unique to america's market economy across the developed world that inequality has increased. so you may have seen just last week the pope himself spoke. about this at eloquent length how going to be he wrote that it's not a news item when an elderly homeless person does but suppose you are but it is news when the stock market loses two points so what do you think. why why should it be news when the stock market drops two points but the fact that you know forty forty thousand people in the united states every year die from lack of health health care for example adam smith a brilliant economist and minister whose book theory of moral sentiments should be read long before explains in the book the senate moral sentiments ups or another what the basis in this book that he wrote on the right of the theory of bill explains that when an earthquake kills ten thousand people in china we don't feel it and we're not as impacted the way we are when one of our neighbors has a break a leg or falls it's just every ality of how humans work that's no indictment on any particular economic syste
is not unique to america's market economy across the developed world that inequality has increased. so you may have seen just last week the pope himself spoke. about this at eloquent length how going to be he wrote that it's not a news item when an elderly homeless person does but suppose you are but it is news when the stock market loses two points so what do you think. why why should it be news when the stock market drops two points but the fact that you know forty forty thousand people in...
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economy, both striking ones. the gdp, the gross domestic product shot up 3.6% in the third quarter and a second report is showing the best private sector jobs growth all year. zain asher will join us had ffrw york in a minute. probably means the friday jobs market numbers will be very good. those numbers come out tomorrow. >>> the fight to close that wage gap heats up today, in just about two hours thousands of fast food workers are expected to protest in 100 cities across the country, from new york city to new orleans, to oakland, trying to pressure employers into paying a livable wage of $15 an hour. now they've got a powerful ally on their side, president obama. >> we know that we're going to have a greater and greater portion of our people in the service sector and we know that there are airport workers and fast food workers and nurse assistants and retail sales people who work their tails off and are still living at or barely above poverty. that's why it's well past the time to raise a minimum wage. >> but t
economy, both striking ones. the gdp, the gross domestic product shot up 3.6% in the third quarter and a second report is showing the best private sector jobs growth all year. zain asher will join us had ffrw york in a minute. probably means the friday jobs market numbers will be very good. those numbers come out tomorrow. >>> the fight to close that wage gap heats up today, in just about two hours thousands of fast food workers are expected to protest in 100 cities across the country,...
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but the economy is growing. however almost all of the money that's being made is going to the very rich. since 2009 the income of the top 1% grew by 31%. money is being made, but only for about a million and a half people here. yet for everyone else, 99% of the population, their salaries have barely moved in four years, less than 1%. the richest are taking home the most since the 1920s. why? some suggest years of tax cuts for the wealthy, the growth of the finance and technology companies, led to wall street fat cats and techies. computers and robots have taken a lot of the jobs since the 1970s. the minimum wage is $7.25 an hour. president obama has suggested to bump it up to about $10 an hour. one study suggests the minimum wage should be really closer to $22 an hour. overall improvements in the economy are not being felt by most people which concerns the president who worries the american dream of working to a better life may be turning to just that: a dream. >> jonlt, thank you. the struggling economy has som
but the economy is growing. however almost all of the money that's being made is going to the very rich. since 2009 the income of the top 1% grew by 31%. money is being made, but only for about a million and a half people here. yet for everyone else, 99% of the population, their salaries have barely moved in four years, less than 1%. the richest are taking home the most since the 1920s. why? some suggest years of tax cuts for the wealthy, the growth of the finance and technology companies, led...
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the republicans continue to focus on strengthening the economy for middle class families. that's why we passed nearly 150 bills many of them will help our economy, they are still sitting in the united states senate. so you hear a difference, how republicans approach things and democrats approach things. he also used his time to rail against obama-care, the federal healthcare law, he says that's one of the other priorities that and getting the economy going less so than working on the unemployment benefit issue. >> and torment, the labor department releases the november employment numbers. stick with al jazeera america for full coverage of that important report. some fast food workers are striking in more than 100 cities. they are demanding an increase in the minimum wage, and pushing to make it easier to unionize. many are asking for $15 an hour. that's nearly twice as much as the average worker earned. raising the minimum wage will not hurt jobs. fast food chains already have a wage increase would drive up the prices. that is by far the hirest in the country. tonya mosley
the republicans continue to focus on strengthening the economy for middle class families. that's why we passed nearly 150 bills many of them will help our economy, they are still sitting in the united states senate. so you hear a difference, how republicans approach things and democrats approach things. he also used his time to rail against obama-care, the federal healthcare law, he says that's one of the other priorities that and getting the economy going less so than working on the...
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economy. jobless claims below 300,000, what is this, new strength in america? >> we're going to have to go, the fed said over and over again we're going to need to see three or four months of good economic figures. let me make it as simple as possible. the battle, the war next year, the wages fought on this floor and wall street is between two calms. those that think that qe is responsible for the rise in equity prices and those that think the economy is improving and justifies the rise in equity prices. they're going to battle it out in 2014 and the fed is stuck in the middle. we've got an exciting year ahead of us. stuart: in five seconds, whose side are you on? >> i'm on the side, the qe way outpaced the economy. main street has been left out. stuart: thank you very much, scott shellady. check the big board, here we go, off and running and strong news on the economy and the market has opened lower, pointing to a loss of 30, maybe 40 points when we're fully off and running. now, this, it's t
economy. jobless claims below 300,000, what is this, new strength in america? >> we're going to have to go, the fed said over and over again we're going to need to see three or four months of good economic figures. let me make it as simple as possible. the battle, the war next year, the wages fought on this floor and wall street is between two calms. those that think that qe is responsible for the rise in equity prices and those that think the economy is improving and justifies the rise...